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Top Common Questions To Ask Your Insurance Provider

By Author: Dipti
Total Articles: 2

At the time of buying a health insurance plan, most of us feel somewhat confused. After all, the wide range of options available can make the selection process a lot more complicated. There are over a dozen insurance companies present in the health insurance market in India. Each insurance company offers multiple policies. Each policy puts forward different jargon and benefits. In such a situation, buying a medical insurance plan can be quite tricky. This is why you need to ask the right questions to your health insurance provider. Some of them are as follows:

1.What type of health plan are you offering?
Like we know, health insurance policies have different categories. Fixed benefit, critical illness, cashless hospitalization, etc. are some of the different plans you can choose from. Knowing about the vital aspects of some of the major plans will provide you with more idea about the whole thing. Once you go through the list of benefits, it will become easier for you to shortlist suitable ones.

2.How much is the coverage amount?
The amount of coverage you get at the time of making a claim matters a lot. Suppose you live in a city where medical and healthcare services are very costly. In such a case, buying a health insurance policy that offers a lower cover amount might prove to be a bad decision. Likewise, if there have been cases of critical illnesses in your family’s medical history, it is again better to choose a higher cover amount.

3. How much is the deductible?
For those unaware, the deductible is the amount of money you pay from your wallet when a claim is made by you. As a matter of fact, you can choose your health insurance deductible. The higher the deductible of your health insurance plan, the less your premiums are. In most of the cases, the deductible amount is set by the insurance provider. Hence, you must clearly ask about it.

4. What the policy does & doesn’t cover?
This is one of the most important questions you must ask. Every health insurance policy comes with a set of inclusions and exclusions. For instance, most of the policies do not cover critical illnesses. You might have to buy an add-on in such a case. The exclusions differ from one health insurance company to another. Laboratory tests, hospitalization charges, ambulance services, organ donor charges, etc. are some of the aspects that are commonly included.

5.How much is the NCB?
NCB or No Claim Bonus is the discount you get if no claim is made by you in the previous year’s policy. The discount (percentage) varies from one provider to another. Therefore, you must ask this question and get a clear answer on it.

6.Do they offer the benefit of cashless hospitalization?
No doubt, cashless hospitalization is a major aspect, and you must go for a medical insurance plan that offers you this advantage. With the advantage of cashless hospitalization, you will not have to worry about arranging the funds at the time of hospitalization.

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